I've marked the SHS (Head and shoulders) pattern on this USDCHF chart. In this case, SHS has potentially big bullish power because: 1] It appeared around 2019 Low. From this view, all SHS lows could be interpreted as the attempt to breakdown the lowest level of 2019. But all these attempts are turned into fails because as soon as price penetrated 0.9662 level -...
Why Oil is forming the important low? 1] Big volumes at the bottom of this (4)-(5) wave. But every new low reaches smaller progress in comparison with the previous one. This is a sign of hidden support (or the wall of BUY Limits). 2] Volumes are exhausting on this down-move. Bears couldn't use the center-line in order to reach a new low. 3] Bullish Breakout of...
I'd like to interpret it as weak. Here is my argumentation: -> Firstly, it is acting weaker than TOTAL index (orange line). Despite the overall bullishness in crypto-industry, ETC has been remaining flat over the last days or even weeks. -> These are SLKT bars. They aimed to attract buyers into pseudo-pump and kill SLs of sellers around psycho-number 13.0. The...
Overbought now. At least bearish pullback should follow
AUDJPY is telling a bearish story. More details on Chart. Use the Law of Supply and Demand to Read the Charts properly
Big picture #GBPUSD overview We have a Zone of Strength on background (green square). It started from breaking down the bearish trend-channel in the late July days. This breakdown acceleration produced a panic feeling (I bet, news was very "bad"). Then we got a sequence of accumulation - EVRB (absorbing the panic - blue circle), SLKB (the secondary test) and the...
Overall Crypto Market Overview After recent wide moves, let's focus on a big picture. Where are we now, and what to expect? The Story begins from 22/Nov low (orange line). This is an important level, and here is why: 1/ Panic bar 22/Nov 2/ 23/Nov is indecision day (echo after Panic) 3/ Supply resumed on 24/Nov 4/ This was an attempt of bears to develop...
1/ Market penetrated the previous Minor Low. 2/ Also, it touched the support trend line. We have to expect some bullish impulse to come to play. But with major weakness on background, a potential rally will exhaust quickly IMO.
1/ We have blue lines of downtrend 2/ The Pink Line of support was... 3/ ...broken down in the very bearish style: SB+ND+SB. It was effort of bears to push price down. Chart tells that sellers have control over 1488 level. 4/ I plot green line of resistance on this level. Now read the signs from chart when price approached green resistance line: 5/ ND 6/ Perfect...